"A company limited by guarantee not having a share capital: As this is a public company, there must be a minimum of seven members. The members' liability is limited to the amount they have undertaken to contribute to the assets of the company, in the event it is wound up, not exceeding the amount specified in the memorandum. If a guarantee company does not have a share capital, the members are not required to buy any shares in the company. Many charitable and professional bodies find this form of company to be a suitable vehicle as they wish to secure the benefits of separate legal personality and of limited liability but do not require to raise funds from the members."
Looks like another option.
Colm
> From: wiki_ra@yahoo.ie
> Date: Mon, 26 Jul 2010 18:49:18 +0100
> To: wikimediaie@lists.wikimedia.org
> Subject: Re: [Wikimedia IE] Ready To Go?
>
> I had incorrectly assumed that a Friendly Society is limited in liability. It is not. Aside from the limited company route, the co-operative route is also open. That would enjoy limited liability and might be more in tune with the open spirt of Wikimedia.
>
> (One big difference between a co-op and a company is that a co-op requires a minimum of 7 participants will to act as a committee but is more fluid in membership/ownership.)
>
> Oliver